Three Ways to Support Youth and Families with a Gift of Real Estate

You may own real estate that that is worth more than you paid for it, but you hesitate to sell it because you would owe tax on the increase in value. Or, perhaps you enjoy income from rental property, but are tired of maintenance and management responsibilities. A charitable gift of appreciated real estate could provide benefits to you, and at the same time help the Y to create healthy minds, bodies and spirits in our community, now or in the future.

1. You can make an outright gift of your real estate to the Y and see the full fair market value put to work helping people in Y programs. You receive a generous charitable deduction, and you avoid the capital gains tax you would owe if you were to sell the property. 
2. You can deed your home, ranch or farm to the Y and continue to live there for the remainder of your lifetime with a retained life estate agreement. You receive a large charitable deduction that you can carry forward for up to five additional years, you remove the property from your estate, and you make a significant charitable gift with no change in your lifestyle. When you are gone, the Y will sell the property and add the funds to the endowment, to promote youth development, healthy living and social responsibility for generations to come.
3. You can receive lifetime income by donating your property to a charitable life-income plan that names the Y as charitable beneficiary. You receive an immediate income tax deduction and avoid the immediate capital gains tax that would be due if you sold the property yourself. If you donate rental property, depending on its value, you could increase the income you are currently receiving. And, you would make a generous future gift to the YMCA endowment.

For a complimentary consultation on how a gift of real estate can benefit you and the Y, please contact, in confidence, Kerri Van Duyne, Vice President of Development, at (808) 541-5473 or kvanduyne@ymcahonolulu.org. We will be happy to work with you and your advisors to find a gift plan that is right for you.

Because everyone’s situation is different, the Y encourages you to seek professional legal, estate planning, and financial advice before deciding on a course of action. This information does not constitute legal or financial advice and should not be relied upon as a substitute for professional advice.